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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (139675)	12/8/2022 6:39:36 AM
From: Goose94	Read Replies (1) \| Respond to of 203376

Falco Resources (FPC-V) Extension Of Its Senior Debts And Related Warrants Dec 7, '22 - NR Falco has entered into binding agreements (i) with Osisko Gold Royalties Ltd (“Osisko”) in order to extend the maturity date of the Corporation’s existing convertible secured senior loan (the “Osisko Loan”) from December 31, 2022 to December 31, 2024; and (ii) with Glencore Canada Corporation (“Glencore”) in order to extend the maturity date of the Corporation’s existing senior secured convertible debenture (the “Glencore Debenture”) from April 27, 2023 to December 31, 2024. Obtaining these extensions and the related issuance and amendment of the warrants (collectively, the “Amendments”) is an important development for Falco, given that these loan facilities were scheduled to mature over the next few months. These agreements also demonstrate the strong relationship and long-standing support of both Osisko and Glencore for Falco and the development of the Horne 5 Project. As consideration for the extensions, some key terms have been revised, including: The Osisko Loan (principal amount approximately C$20,484,195) The interest rate will be increased to 8% (from 7%) The conversion price will be reduced to C$0.50 (from C$0.55) per common share The warrant exercise price will be decreased to C$0.65 (from C$0.69) and the maturity extended to coincide with the new Loan maturity date. The Glencore Debenture (principal amount approximately C$11,770,710) The interest rate will be increased to 9% (from 8%) The conversion price will be reduced to C$0.36 (from C$0.40) per common share The warrant exercise price will be decreased to C$0.38 (from C$0.41) and the maturity extended to coincide with the new Debenture maturity date. Closing of the Amendments are subject to (i) shareholder approval to be sought at the annual and special meeting of the Corporation to be held on January 23, 2023, (ii) approval of the TSX Venture Exchange, and (iii) concurrent closing of both Amendments on the terms described. Full details can be found in the press release: t.nylas.com . Assuming these Amendments close as anticipated, Falco can focus on finalizing the Operating License and Indemnity Agreement with Glencore and pursue the development and final permitting of the Horne 5 Project. While we have experienced some lengthy (and frustrating!) delays over the past year, 2023 is shaping up to be a milestone year for Falco! Please feel free to contact me if you would like to learn more. Regards, R. Jeffrey White, LL.B., MBA Director, Investor Relations / Directeur, relations aux investisseurs RESSOURCES FALCO LTÉE 1100, avenue des Canadiens-de-Montréal, Bureau 300, Montréal, (QC) H3B 2S2 T 416-274-7762 rjwhite@falcores.com \| www.falcores.com \| TSX-V: FPC